Preeti Lobana, Google India VP, stated on Wednesday that Google views AI as an "economic equaliser" and a democratic technology. Speaking at Google Cloud Day, she highlighted AI's potential to empower businesses, especially SMEs, in India's journey towards Viksit Bharat 2047. Google has committed USD 15 billion to scale India's digital and AI infrastructure, including an AI hub in Visakhapatnam, to support the IndiaAI Mission.
A report in the Reserve Bank of India's (RBI's) monthly bulletin suggests that satellite-based night-time lights data and Google search trends can significantly improve quarterly economic growth estimates for Gujarat, Maharashtra, and Karnataka, reducing errors by up to 62 per cent.
American-born economists Robert E. Hall and Michael Woodford have been awarded the Nobel memorial prize in economics for their groundbreaking work on the microeconomic foundations of macroeconomic stabilisation, demonstrating how individual household and business actions influence the broader economy.
Economic think tank GTRI has urged the Indian government to withdraw the proposed UPI charges, set to begin on October 15, arguing that the digital payment system should remain free for merchants and consumers. GTRI warns that these charges could lead to higher prices, reduced earnings for small businesses, and weakened household demand, while also benefiting international card networks by eroding UPI's price advantage. The think tank also called for an independent audit of UPI's running costs.
RBI Governor Sanjay Malhotra reiterated India's cautious stance on cryptocurrencies due to concerns over monetary sovereignty and capital flows, while actively promoting underlying technologies like distributed ledger technology and tokenisation. He also addressed the global rise in public debt and hardening bond yields, attributing it to increased government and private spending, including that driven by AI, and noted the implications of global interest rates on India's monetary policy.
Union Finance Minister Nirmala Sitharaman expressed strong confidence in India achieving over 10 per cent economic growth, advocating for increased technology adoption and innovation. She urged overcoming scepticism and highlighted technology's transformative role in agriculture and public sector reforms, while also launching a new fund and book at an IIT Madras event.
India's Chief Economic Advisor V Anantha Nageswaran stated that the country's balance of payments (BoP) pressure is expected to remain a continuous challenge due to rising imports, commodity dependence, high global interest rates, and intense competition for capital.
The United Arab Emirates (UAE) has expressed intent to invest an additional $25 billion in India, with an ultimate goal of reaching $100 billion in investments, Union Minister Piyush Goyal announced. This comes as both nations plan to enhance cooperation in shipping, ports, energy, and emerging technologies, against a backdrop of expanding bilateral trade.
Finance Minister Nirmala Sitharaman announced that India's real GDP grew by 7.8 per cent in the April-June quarter, surpassing the RBI's forecast. She attributed this strong performance to government reforms and agile economic management, reaffirming the government's commitment to expanding economic opportunities.
Three members of a family, including a woman, have been arrested in Patna for allegedly defrauding 27 investors of approximately Rs 3 crore. They promised to double investments within 20 months through an unregistered financial consultancy firm, offering 60% annual returns, but failed to deliver.
The Indian government has approved a Rs 2,814 crore capital expenditure support scheme to promote domestic processing of critical minerals like lithium and nickel. This five-year scheme, running until 2030-31, aims to reduce import dependence, develop value chains, and enhance India's self-reliance in essential materials for clean energy and modern technologies. It includes a 30% capital subsidy for setting up processing plants.
Chief Economic Advisor V Anantha Nageswaran stated that 2026 marks an inflection point for India, akin to 1991, necessitating the country to become globally indispensable in carefully chosen sectors to build strategic leverage for accessing geopolitically contested resources amidst a series of external shocks.
India's eway bill generation reached 139.08 million in August, marking the third-highest monthly count on record and indicating sustained momentum in goods movement and formal economic activity, according to official data.
Experts suggest that a significant setback for US President Donald Trump in the midterm elections could compel him to pursue a swift trade agreement with India, as he seeks a quick foreign policy win amidst challenges with Russia, China, and Iran.
Educationists and policy experts at the Indian Statistical Institute (ISI) in Kolkata emphasised the critical need for developing a robust database, leveraging modern technology and artificial intelligence, to enhance effective policymaking. The two-day conclave, featuring prominent speakers like Prof S Mahendra Dev, highlighted the ongoing transformation in official statistics and the importance of public trust and research.
India's Goods and Services Tax (GST) collections soared by 23 per cent year-on-year to over Rs 2.31 lakh crore in October, marking the second-highest monthly mop-up ever, primarily driven by robust festive buying and strong domestic demand.
US President Donald Trump has announced that Washington will end approximately $4 billion in annual assistance to Israel by the end of this year, saying that the country no longer requires American financial support, while Israel's Democratic Party Chairman Yair Golan, belonging to the Anti-Netanyahu bloc, criticised the proposed move, calling it a severe blow to the country's security.
The Delhi Police's Economic Offences Wing (EOW) has arrested Visarjan, a 51-year-old proclaimed offender, eight years after a case was registered against him. He is accused of cheating around 531 investors of Rs 3.23 crore through an unauthorised Ponzi scheme that promised attractive returns.
The Economic Offences Wing of the Jammu and Kashmir Crime Branch has filed a chargesheet against Sajad Abdullah and Jahangir Ahmad Tanky for allegedly duping individuals by promising lucrative overseas employment. The accused, operating M/s Al-Aqsa Global Services Pvt Ltd, collected over Rs 15 lakhs but failed to provide jobs, with refund cheques bouncing. The investigation revealed the consultancy was not registered for overseas recruitment.
India has voted in favour of a UN General Assembly resolution urging the US to end its economic, commercial, and financial embargo against Cuba. The resolution, adopted on Wednesday, saw 130 countries support the call to lift restrictions that have severely impacted Cuba's economy, healthcare, and food production. The article also details a heated exchange between US and Cuban diplomats during the UNGA session.
Foreign portfolio investors (FPIs) withdrew Rs 34,843 crore from Indian equities in October, marking the second consecutive month of heavy outflows due to concerns over crude oil prices, global interest rates, and corporate earnings. However, a notable shift occurred towards the end of the month, with FPIs turning net buyers and infusing approximately Rs 6,300 crore between October 26-30.
An Indian School of Business professor highlights the lack of precise data on losses from free UPI transactions, arguing that the benefits, such as user data generation, are often overlooked in the debate over implementing a Merchant Discount Rate (MDR). A recent ISB survey suggests that charging MDR could lead street vendors to revert to cash, despite the government's allowance for MDR on transactions above Rs 2,000 and NPCI's deferral of its implementation.
The Delhi High Court has upheld the Centre's decision to increase passport fees for Indians residing abroad, dismissing a petition that challenged the 67 per cent hike. The court ruled that the increase, implemented after 14 years, was not unreasonable or exorbitant and falls within the government's policy domain, warranting no judicial intervention. The petition, filed by Pravasi Legal Cell, argued that the higher fees disproportionately affect low-income Indian workers abroad.
India aims to become a globally competitive and technologically self-reliant semiconductor powerhouse by 2047, leading in next-generation chip technologies. This vision, highlighted at the ESTIC 2026 conclave where DRDO played a key role, focuses on developing a sustainable semiconductor ecosystem, creating high-value jobs, and ensuring digital security and economic strength through indigenous chip capabilities.
Corporate governance advisory firm InGovern Research Services has stated in a new report that a documented family arrangement should not be reopened solely due to changes in business valuations, specifically addressing the ongoing succession dispute within the Venu Srinivasan family of the TVS group.
Engagement with neighbours has gathered pace, particularly as the conflict in West Asia has exposed their vulnerability to energy supply disruptions.
Democratic candidate Abdul El-Sayed has claimed victory in Michigan's Senate race, making him the first Muslim elected to the United States Senate, a historic win amidst a nationwide Democratic sweep in the 2026 midterm elections.
RBI Deputy Governor Poonam Gupta stated that India's economic growth momentum remains strong despite various global and domestic shocks, attributing this resilience to a diversified growth base and improved policy responses. She highlighted the economy's 7.8 per cent growth in Q1 and continued momentum into Q2, suggesting potential upgrades to growth forecasts.
'India needs to create eight-nine million jobs annually to absorb the growth in the working-age population.' 'Failure to create productive jobs could squander the demographic advantage that we enjoy right now.'
Indian stock markets are set to be influenced by a confluence of factors this week, including escalating geopolitical tensions, particularly concerns over US-Iran conflict, volatile crude oil prices, and the ongoing quarterly earnings season. Additionally, the US midterm elections, foreign investor activity, and key macroeconomic data releases will also be closely monitored by investors.
Indian tourists can now use the Unified Payments Interface (UPI) to book tickets online for Dubai's Burj Khalifa and major attractions in Singapore, including Universal Studios. This initiative, facilitated by NPCI International Payments Ltd (NIPL) through strategic partnerships, aims to simplify international travel payments for Indians and strengthen digital and economic links with these countries.
Indian American Pia Dandiya has won the election to the US House of Representatives from Florida's 22nd congressional district, defeating Marine veteran Casey Askar. Dandiya, a former high school principal, secured 51.9 per cent of the votes, becoming the newest Indian-American US congresswoman and turning a competitive district blue.
Several Indian-Americans have achieved significant victories in the US midterm elections, with five securing seats in the House of Representatives and Maryland Lieutenant Governor Aruna Miller winning re-election. The article profiles these successful candidates, highlighting their backgrounds and contributions to American politics.
India's private equity (PE) industry is transitioning from a 'spray and pray' approach to a more selective investment model, focusing on established businesses, greater strategic influence, and operational transformation to generate definitive returns, according to industry leaders Renuka Ramnath and Amit Chandra.
US President Donald Trump has declared an 'economic D-Day' against Iran, unveiling what he terms the 'most crushing economic operation ever taken' and warning global entities against providing any support to Tehran.
A special MCOCA court in Mumbai has remanded 11 accused in the Tiger Shroff firing incident case to police custody until November 6. Police are investigating a 'deep-rooted conspiracy' by gangster Anil Pandit's organised crime syndicate, which allegedly targeted prominent personalities for economic gain. The syndicate reportedly operates with two modules for reconnaissance, execution, logistics, and arms supply. The stringent MCOCA provisions have been invoked, allowing for extended custody and specific evidence admissibility.
The Union finance ministry has constituted a high-level committee, chaired by former Central Vigilance Commissioner Suresh N Patel, to recommend structural, regulatory, and legislative reforms for India's banking sector, aiming to make banks globally competitive and support the financing needs of a developed economy.
The Economic Offences Wing (EOW) Kashmir has filed a chargesheet against Junaid Ul Islam Baba in a Rs two crore investment fraud case. Baba allegedly defrauded complainants by promising high returns on investments in an e-commerce company, then absconded with the money. He was arrested in Bengaluru and is currently in Central Jail, Srinagar.
The Supreme Court has intervened in the ongoing protests against the Chief Election Commissioner, seeking responses from the Centre and other parties while emphasizing that protest sites cannot be occupied indefinitely, impacting local businesses.
Union Road Transport Minister Nitin Gadkari has dismissed criticism against blending 20 per cent ethanol in petrol fuel as a 'paid campaign'. He highlighted that millions of vehicles are already running on E19-20 blends without widespread issues. Gadkari also addressed concerns about highway quality, promising improvements within two years and detailing plans for monitoring and penalising contractors. He further elaborated on the economic impact of infrastructure development and the expansion of India's highway network.
